IMF Visit Puts TOR’s Recovery Under Scrutiny

TOR clears six-year audit backlog, restores financial reporting compliance

Tema Oil Refinery (TOR) has cleared its six-year audit backlog, submitted seven audited financial reports to SIGA and reported a GH¢1.24 billion profit before tax in 2025.

IMF Team Engages TOR Over Recovery Plans

Some management of TOR with the IMF team   A delegation from the International Monetary Fund (IMF) led by its Resident Representative to Ghana, Adrian Alter, has visited the Tema Read More...

TOR reveals US$517m debt inherited by current management

The Tema Oil Refinery (TOR) says it has relied entirely on internally generated funds to sustain its operations since the current management took office in May 2025, despite inheriting a debt burden of about US$517 million. Managing Director Edmond Kombat disclosed this during a meeting with an International Monetary Fund (IMF) delegation led by Ghana […]

IMF Visit Puts TOR’s Recovery Under Scrutiny

The International Monetary Fund’s engagement with Tema Oil Refinery (TOR) comes at a critical point in the state-owned company’s recovery, as efforts to restore crude processing, tighten financial controls and secure feedstock supply raise a broader question: can the refinery turn its operational revival into...